The ratio of partial payments fell slightly by 0.28 percentage points, from 14.78% in the first quarter to 14.50% in the second quarter. From the perspective of year-on-year, it fell by 0.32 percentage points. Singaporean businesses worsened in the...
The ratio of partial payments fell slightly by 0.28 percentage points, from 14.78% in the first quarter to 14.50% in the second quarter. From the perspective of year-on-year, it fell by 0.32 percentage points.
Singaporean businesses worsened in the second quarter of this year, with delayed payment ratios being the highest in nearly four years.
The rate of delayed payments rose from 44.04% in the first quarter to 44.41% in the second quarter, an increase of 0.37 percentage points. From the perspective of year-on-year, it rose by 0.34 percentage points.
Xie Huiqing, president of the Business Credit Information Center, said: "The worsening payment situation in the second quarter shows that the cash flow pressure of small and medium-sized enterprises is increasing. Among them, the deterioration in manufacturing and construction industries is the most significant. In addition to domestic challenges, global uncertainties such as rising tariffs and austerity policies have also intensified the pressure on enterprises. As the payment cycle extends, enterprises must strengthen credit control and closely monitor accounts receivable to cope with these uncertainties."
From the perspective of the industry, the delayed payment ratios in the second quarter of the five major industries, including construction, manufacturing, retail, service and wholesale, all increased compared with the first quarter; and compared with the same period last year, the delayed payment situation in the five major industries also worsened.
The Singapore Commercial Credit Bureau (SCCB) released a report on Tuesday (July 15) stating that the rate of timely payments fell from 41.18% in the first quarter to 41.10% in the second quarter, a decrease of 0.08 percentage points; on the annual basis, the rate of timely payments fell slightly by 0.01 percentage points.
Payment on time means that at least 90% of the bills are settled within the agreed period, while delayed payment means that more than 50% of the bills are not settled within the agreed period, and part of the payment means that 50% to 90% of the total bills have been paid.
